Denso Corporation president Tsuneo Ishimaru said the company is planning to export auto components from India to meet its requirements in overseas market.

However, he declined to quantify the value of exports from the country. "At present we do not have excess production capacities in the country and the local manufacturing facilities are meeting domestic needs," he said.

Addressing a high power Japanese economic mission meeting organised by the Greater Mysore Chamber of Industry (GMCI) in Bangalore, Ishimaru said his country would extend its bilateral trade with India. "We had a detailed discussion with the Karnataka Chief Minister JH Patel to this effect," he said.

Ishimaru, who is also the leaderof the mission and the chairman of Japan-India Committee, said Japanese companies are looking at India for outsourcing software solutions as well.

Addressing the gathering, GMCI president MK Ramachandra said: "According to an EXIM Bank of Japan survey conducted in 1998, India is listed third as a prospective destination for Japanese investments in the long term (10 years) behind China and USA. India is listed fifth in the medium term behind China, US, Thailand and Indonesia," he said.

He said bilateral trade between the two countries had touched US$3.8 billion and India's export basket consisted of three main items like iron ore, shrimps and diamonds.